This Retail Property is Off-Market.

5655 Colleyville Blvd.
Colleyville, TX 76034 ·

53,000 SF · Retail For Sale

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Metro Cinema - Indigo Grille

Price N/A Occupancy 100%
Building Size 53,000 SF No. Stories 2
Property Type Retail Tenancy Single
Property Sub-type
Retail (Other)
More...
  • Anchor
  • Special Purpose (Other)
  • Theatre/ Performing Arts
Property on Ground Lease? Yes
Property Use Type Net Lease Investment with 10+ years left on lease Year Built 2006
Cap Rate 9.23% Lot Size 4.18 AC
Listing ID: 14882654 Date Created: 11/14/2006 Last Updated: 01/20/2009

Description

PRICE REUCTION: The subject investment is the leasehold interest in Metro Cinema and Indigo Grille which is a state-of-the-art IMAX theatre complex offering the convenience of enjoying a movie and a meal simultaneously in one location. The lease is a new 20 year NNN lease with 10% rent escalations every five years and four, five-year options. The property is located within Town Center Colleyville which is one of the most exclusive shopping centers located in Colleyville. The traffic counts along Highway 26 are in excess of 51,000 cars per day and the surrounding neighborhoods are some of the most exclusive residential neighborhoods in Northeast Tarrant County with home prices ranging from $200,000 to well over $1,000,000. The Metro Cinema complex contains eight screens with a seating capacity for approximately 980 individuals and is the only licensed commercial IMAX theatre within Tarrant County as well as the only IMAX theatre with the ability to exhibit 3D films. The seller will personally guarantee the lease for the first five years of operation or until an agreed upon revenue benchmark is reached

Excellent Demographics
The regional center surrounding IMAX rents are $27-$35 PSF
Traffic Counts Above 51,000 Cars Per Day on Highway 26
Located Within the Preeminent Retail Development Town Center Colleyville
$141,000 + Average Household Income Within One Mile
An Expected 10% Increase In Population By 2010

Highlights

  • 20 Year NNN Leased IMAX Theatre Complex
  • 10% rent increases very 5 years
  • 2006 Construction
  • "A" Location in the Exclusive Town Center Colleyville Retail Development
  • Average Household Income Above $141,000 Within One Mile

Research

5655 Colleyville Blvd., Colleyville, TX 76034 (Tarrant County)

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